Companies from Kría’s Portfolio at Startup SuperNova Failure Night

Recently, the Startup SuperNova “Failure Night” event was held, bringing together entrepreneurs, startups, and innovation enthusiasts to laugh, learn, and reflect on the experiences of others. Representatives from two companies in the portfolio of the Business Venture Fund Kría, along with two other speakers, shared their experiences on this occasion.

Failure Night is an event where experienced entrepreneurs openly talk about mistakes and all kinds of unexpected challenges they have encountered throughout the startup journey. The evening creates a platform for entertaining stories and conversations, while giving people insight into the unexpected, chaotic, and educational realities of building a startup company.

The atmosphere was light, warm, and sincere — while also highly valuable for anyone navigating their entrepreneurial path, whether their ideas are still in the earliest stages or have already become operating startups. The talks combined practical advice, valuable experience, and honest accounts of mistakes that could easily have had serious consequences, but instead became important learning experiences.

Experienced Entrepreneurs Share Their Stories

• Steinar Arnar Kjartansson co-founder of Humble recalled a challenging period when he was temporarily left alone managing the company’s day-to-day operations while others were occupied with other projects or on parental leave. Under the pressure, important email communications slipped past him with serious consequences, making the story a powerful reminder of the importance of clear processes, prioritization, and effective communication. Humble was founded in 2023 and joined the portfolio of the New Business Venture Fund Kría that same year through the Frumsjóður 2023 initiative.
• Guðrún Hildur Ragnarsdóttir, founder and CEO of Keeps, shared colorful stories from the company’s fundraising and sales journey, including trips to Africa, emphasizing that patience, humor, and resilience matter just as much as good Excel spreadsheets. Keeps was also founded in 2023 and joined Kría’s portfolio through the Frumsjóður 2023 initiative.
• Eyþór Máni Steinarsson, founder and CEO of Hopp, discussed what it is like to grow and evolve in the shadow of large competitors, and how the balance between ambition and focus can be delicate.
• Soffía Kristín Þórðardóttir, founder and CEO of PaxFlow, shared insights into working in a startup environment within the walls of a large corporation and reflected on her experience in tourism during the height of COVID. She described how uncertainty, constant change, and external pressure can simultaneously create enormous stress and unique opportunities to rethink processes, redesign workflows, and find solutions at remarkable speed.

Despite the different experiences shared, the evening’s core message was clear: mistakes are an unavoidable part of the entrepreneurial journey — and when discussed with honesty, humor, and a willingness to learn, they become shared resources for the entire ecosystem.

Startup SuperNova Failure Night 2026 served as a reminder of the importance of sharing experiences, learning from one another, and continuing forward — better today than yesterday.

Startup SuperNova is a collaborative project between KLAK - Icelandic Startups, Nova, and Huawei.

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